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Silver (SI) Forming Weekly Doji, Continuing Bottoming Attempt

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Silver (SI | YI) is hesitating going into today's European morning, but remains well positioned to retest last week's high later this week. SI has underperformed Gold (GC | YG) since the beginning of 2018, but should increasingly be a beneficiary of safe haven flows as geopolitical tensions rise. SI is bouncing off an ascending wedge support (on the 4hr chart) and has ample upside before the wedge completes. The weekly, daily and 4hr RSI, Stochastics and MACD are bottomish, rallying or consolidating recent gains. I am looking at entering long in the green zone (of the daily chart), targeting the red zone for Thursday. The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I set my stops tighter).

Silver (SI | YI) Weekly/Daily/4hr

SI (Silver) Technical Analysis

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